According to IMARC Group’s latest report titled "Singapore Construction Market Report by Sector (Residential, Commercial, Industrial, Infrastructure (Transportation), Energy and Utilities), Region (North-East, Central, West, East, North), and Forecast 2026-2034", this study offers a comprehensive analysis of the industry's steady growth driven by public sector demand and sustainable urban renewal. The study offers a profound analysis of the industry, encompassing Singapore construction market share, size, growth factors, key trends, and regional insights. The report covers critical market dynamics, including the impact of the Green Plan 2030, the adoption of Design for Manufacturing and Assembly (DfMA), and the extensive pipeline of infrastructure projects such as the Cross Island Line and Changi Airport Terminal 5.

Market At-A-Glance: Key Statistics (2026-2034):

  • Current Market Size (2025): USD 40,849.3 Million
  • Projected Market Size (2034): USD 57,995.5 Million
  • Growth Rate (CAGR): 3.77%
  • Dominant Sector: Residential and Infrastructure (Driven by HDB pipeline and MRT expansion)

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Singapore Construction Market Overview

The Singapore construction market size reached USD 40,849.3 Million in 2025. Looking forward, IMARC Group expects the market to reach USD 57,995.5 Million by 2034, exhibiting a growth rate (CAGR) of 3.77% during 2026-2034​.

The market is witnessing a structural transformation, primarily driven by the government’s unwavering commitment to infrastructure modernization and urban renewal. The Building and Construction Authority (BCA) projects robust construction demand, heavily supported by public sector contracts which account for a significant portion of the total value. Major projects including the Cross Island Line (CRL), Toa Payoh Integrated Development, and public housing (HDB) ramp-ups are fueling activity. Furthermore, the private sector is recovering with redevelopment of en-bloc sites and refurbishment of commercial properties to meet new sustainability standards. The industry is also pivoting towards higher productivity through the mandatory adoption of productive construction methods like Prefabricated Prefinished Volumetric Construction (PPVC).

Top Emerging Trends in the Singapore Construction Market:

  • Green Modernization: Rigorous adherence to the "80-80-80 in 2030" targets, driving the mass adoption of Super Low Energy (SLE) buildings and Green Mark Platinum standards.
  • DfMA Adoption: A strategic shift away from labor-intensive on-site work to Design for Manufacturing and Assembly (DfMA), reducing reliance on foreign labor.
  • Digitalization: Implementation of CoreNet X (a unified digital submission platform) and increasing use of Building Information Modelling (BIM) and AI for project management and safety monitoring.
  • Robotic Automation: Deployment of autonomous robots for tasks like drilling, painting, and material handling to counter manpower shortages.

Singapore Construction Market Growth Factors (Drivers)

  • Public Infrastructure Pipeline: Sustained government spending on mega-projects like the Tuas Mega Port, Changi Airport Terminal 5, and expansion of the rail network to 360km by 2030.
  • Housing Demand: The Housing & Development Board's (HDB) commitment to launching up to 100,000 new flats between 2021 and 2025 to meet diverse housing needs.
  • Urban Renewal: Continuous upgrading of mature estates and retrofitting of older commercial buildings to improve energy efficiency.
  • Foreign Investment: Strong inflow of institutional capital into data centers, logistics hubs, and high-spec industrial facilities.

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Market Segmentation

Analysis by Sector:

  • Residential (Dominant segment due to robust public housing projects and private condo launches)
  • Infrastructure (Transportation) (High growth driven by MRT lines and road corridors)
  • Commercial
  • Industrial
  • Energy and Utilities

Analysis by Region:

  • North-East
  • Central (Hub for high-value commercial and luxury residential projects)
  • West (Focus on industrial and innovation districts like Jurong)
  • East
  • North

Singapore Construction Market Recent Developments & News

  • May 2025: The Land Transport Authority (LTA) awarded major civil contracts for the next phase of the MRT Cross Island Line, boosting the order books of civil engineering firms.
  • April 2025: Surbana Jurong launched a new AI-powered platform to enhance project oversight and sustainability tracking for large-scale developments.
  • Sustainable Finance: Keppel achieved the first close of its Sustainable Urban Renewal Fund, signaling strong investor appetite for retrofitting assets in Singapore.

Why Buy This Report? (High-Value Insights)

  • Granular Segmentation: Detailed analysis of Public vs. Private sector demand, helping contractors align their tender strategies.
  • Regional Hotspots: In-depth breakdown of development clusters in Jurong Lake District versus Changi Region, identifying prime growth zones.
  • Future-Ready Trends: Insights into the commercial viability of Mass Engineered Timber (MET) and Green Concrete, highlighting the next frontier of sustainable materials.

Key Highlights of the Report

  • Market Forecast (2025-2033): Quantitative data on market value and steady growth trajectory.
  • Competitive Landscape: Comprehensive analysis of key market players, their project portfolios, and digital transformation strategies.
  • Strategic Analysis: Porter’s Five Forces analysis and SWOT assessment of the Singapore construction ecosystem.
  • Technological Trends: Insights into advancements in Integrated Digital Delivery (IDD) and smart facilities management.

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